Ecommerce is our attainable future, not to mention the future of retail. First of all, let’s get the meaning of Ecommerce out of the way. Ecommerce is the process of purchasing and selling products and services by the many available electronic means, which includes the Internet and mobile applications. It is surely a broad term, as it includes both retails along with the electronic transaction. It is quite obvious to note that the economy has certainly undergone a huge revolution and in a good and efficient way.
Ecommerce has been consistent in its growth since 2003 and looking at its usage, it will never experience a slack in its development. Retail sales have been transformed drastically due to e-commerce sales. However, whereas it becomes a more efficient way of retail sales, and the total sales have been boosted by it, E-commerce is apparently making in-store sales go as far way down as possible. Holidays are the peak season for e-commerce to spread its wings. There are a lot of offers, including buy1get1 free, certain % off, among others. Holidays also become some of the best days to exchange gifts, and hence, the online retailers have their tactic in place as soon as the season approaches.
The consumers – rightly so – now expect a proper shopping experience, highly personalized just for them; it wouldn’t matter about the device they are using, or whatever stage they are at. This has been proven in a study. And to note it, this has not been the case just for shopping. If you have a question of How does technology affect travel, then the answer is Ecommerce as well. You can always book your tickets and other stuff on just a few clicks on your mobile phones or laptops. Ecommerce has made everything that easy.
Mobile phones have, perhaps, impacted consumer retailing, more than anyone can imagine. It has become a primary means to do business from palm efficiently. A study regarding this issue was done in the year 2018. Named as 2018 Forrester’s Retail Best Practices – Mobile Web Study’, it has found that most of the people use their smartphones to purchase any kind of products and services. To list them –
- To discover new products
- To locate products and compare prices
- To create and manage shopping lists
- To make purchases
- To review purchases
This impact of technology on industry of sales has brought in a literal shopping revolution. This calls on the point that people have very grossly neglected. We have changed the way we shop. However, it also means we also need to reevaluate the way products are being sold. There are two advantages as to why online shopping has got more crows than store shopping. The first one is that online retailing is so much cheaper than the store one. And secondly, it is also a huge time saver – you won’t have to wait in a long line just to pay for a small product you wish to purchase.
It can be seen that most of the consumers now adopt a technique called the ‘showrooming’. Future of retail is here as a buzz for a longer period and there is immense potential. It is quite simple really, they go to the store with their phones, and check the prices on both, their phones and in the store. This makes them decide which would be a better option, hence saving their money and by far, time as well. According to the U.S. Department of Commerce has reported about the e-commerce takeover that has to be taking over the world right now.
We wouldn’t know what is there in store for us in the future, but one thing is for sure, E-commerce has made consumers’ lives a lot easier, by changing the face of consumer retailing. Let’s set go and make out the most from this excellent period!